Facebook to invest Rs 43,574 crore in RIL's Jio Platforms
New Delhi, April 22 -- The investment by Mark Zuckerberg company will help Reliance Industries Limited reduce its debt burden and leverage WhatsApp to improve the reach of JioMart
Reliance Industries Limited (RIL) has announced that it has signed a binding agreement to sell a 9.99% equity share in Jio Platforms Ltd to Facebook. The US-based social media company will invest Rs 43,574 crore (USD 5.7 billion) making it the largest minority shareholder in Jio Platforms, the company stated. The Facebook investment values Jio Platforms at Rs 4.6 lakh crore (USD 65.95 billion).
"The partnership between Facebook and Jio is unprecedented in many ways. This is the largest investment for a minority stake by a technology company anywhere in the wor...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.